Metaplanet Inc. has launched a joint study with Metaplanet Securities, JPYC, and Progmat to examine how Bitcoin, stablecoins, and security tokens can be used to build digital credit products in Japan.
The companies said the initiative will cover a wide range of credit instruments, including digital corporate bonds. The goal is to create a more efficient credit market by combining Bitcoin-backed financial strategies with blockchain-based settlement and digital securities infrastructure.
Disclosure: https://t.co/DxNwgQf1zt
— Metaplanet Inc. (@Metaplanet) July 10, 2026
Metaplanet will contribute its Bitcoin treasury strategy and product design, while Metaplanet Securities will focus on structuring and distributing digital credit products. JPYC will study the use of stablecoins for payments, interest distributions, and redemptions, while Progmat will provide the infrastructure for issuing and managing security tokens.
The companies will also examine legal, regulatory, and technical issues before deciding whether to move forward with any commercial products.
Project NOVA becomes the foundation for the plan
The initiative builds on Metaplanet’s Project NOVA, which aims to use Bitcoin as a productive balance sheet asset instead of simply holding it as a treasury reserve.
According to the company, Bitcoin could serve as collateral or a form of credit enhancement for digital financial products. The project also seeks to combine Bitcoin-linked products, digital securities, credit instruments, and stablecoin settlements into a single financial ecosystem for both retail and institutional investors.
The companies added that no decisions have been made regarding issuance dates, product terms, yields, or distribution methods.
Japan already has tokenized bonds, this takes the idea a step further
Japan has already issued tokenized corporate bonds, while financial institutions and blockchain firms have spent the past few years testing security tokens, stablecoins, and blockchain-based settlement. Groups led by Progmat, Japan Exchange Group, and major banks have launched proposals, studies and pilot projects covering digital bonds, tokenized government bonds, and on-chain settlement using stablecoins.
What makes Metaplanet’s latest initiative different is the combination of Bitcoin, stablecoins, and security tokens within a single credit market framework. Instead of focusing only on issuing tokenized securities or improving settlement, the partners want to examine whether Bitcoin-backed digital credit products can be issued, traded, and settled on blockchain networks while complying with Japan’s financial rules. The study also targets a market that has received less attention, financing options for mid-sized and growth companies that often face high costs in the traditional bond market.
Metaplanet’s proposal adds another layer by asking whether Bitcoin can support digital debt products alongside yen stablecoins and security tokens within the same regulated framework. If the study progresses beyond the research stage, it could become one of Japan’s first attempts to connect all three pieces into a single capital markets model.
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